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now, there are two numbers that the obama side, the democrats want to change. there are two top rates. the 33 and the 35. under the obama plan, the 33 would go to 36, the 35 would go to 39.6. you know, if you're trying to negotiate a compromise, you can start to play with each one of those numbers and try to find something. the huge problem for the republicans on doing that is they're opposed to any kind of tax increase on principle. so it's very hard for them to go into the negotiations that way and say, well, we could live with 37. well, if you do that, you have violated everything you've said about what you stand for prior to that. min i mean, the easier way for boehner to handle this is to allow if not secretly encourage a vote to occur in the house on the senate bill. if boehner were to allow a couple of dozen of his people it to go sign the discharge petition so that that comes to a vote and it comes to a vote without boehner having his fingerprints on it, allowing some republicans to go over there and just vote for that, that's the cleanest way to get it
now, there are two numbers that the obama side, the democrats want to change. there are two top rates. the 33 and the 35. under the obama plan, the 33 would go to 36, the 35 would go to 39.6. you know, if you're trying to negotiate a compromise, you can start to play with each one of those numbers and try to find something. the huge problem for the republicans on doing that is they're opposed to any kind of tax increase on principle. so it's very hard for them to go into the negotiations that...
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Dec 4, 2012
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but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlemented ientitlements i'm prepared to make, we have to see the rates on the top 2% go up. we're not getting a deal without it. understand the reason for that. it's not me being stubborn or partisan, it's a matter of math. >> and the gop plan, which was unveiled yesterday, includes $800 bill onin new taxes made through closing loopholes and deductions and not raising rates. compare that to the president's plan and that's about half of what the white house asked for. republicans propose 600 billion in entitlement saving including raising the medicare req
but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and...
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Nov 30, 2012
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i didn't raise your taxes. oh, by the way, my base, you wealthy folks over here, look what obama did to you. he raised your taxes. that's only going to infuriate the wealthy even more. the fact here is is that he has given them something they can campaign on plus they can turn around and say, these are his cuts to medicare, not ours. i don't now why they don't take this deal for the good of the country and come back and fight another day. >> to say democrats are not serious about entitlements, $400 billion of cuts to medicare is a cut to entitlements. that's going to mean hardship for seniors. that's a real cut. now, you can pretend like the hospitals are going to swallow all of that cost cut. they're not. they're going to pass that on. that means less health care. those are real dollars. and so you can say that democrats are not serious, but $400 billion to most people, that's real money. >> well, the obama team is saying they can find these costs in inefficiencies and providers. that's where they're going to
i didn't raise your taxes. oh, by the way, my base, you wealthy folks over here, look what obama did to you. he raised your taxes. that's only going to infuriate the wealthy even more. the fact here is is that he has given them something they can campaign on plus they can turn around and say, these are his cuts to medicare, not ours. i don't now why they don't take this deal for the good of the country and come back and fight another day. >> to say democrats are not serious about...
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obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got it. >> after the break, offer ver ses counteroffer. we will break both down with ezra klein when he joins us next on "now." i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and
obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got it. >> after...
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Nov 29, 2012
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speaker, before the election, you were asked whether if it obama won taxes would have to go up. and you sounded like you opposed that. now you're acknowledging that they will. >> the day after the election, i came here and made it clear that republicans would put revenue on the table. as a way to begin to move the process to get this resolved. >> right. so my question is, what message do you have for people who look at the negotiating division, and believe that it's inevitable that you'll have to accept some compromise on tax rates? >> the revenue is on the table. but revenue was only on the table if there were serious spending cuts as part of this agreement. it has to be part of the agreement. we have a debt crisis. we're spending too much. and while we're willing to put revenue on the table, we have to recognize, it's the spending that's out of control. >> mr. speaker. roughly what size spending cuts do you think it would take to reach a deal on the fiscal cliff, and do you think that at least the promise of spending cuts has to be included in this level deal at this time? >>
speaker, before the election, you were asked whether if it obama won taxes would have to go up. and you sounded like you opposed that. now you're acknowledging that they will. >> the day after the election, i came here and made it clear that republicans would put revenue on the table. as a way to begin to move the process to get this resolved. >> right. so my question is, what message do you have for people who look at the negotiating division, and believe that it's inevitable that...
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. >> are you saying then, for pr purposes, that they should give in to obama on the tax rate? >> not exactly. well, yeah, i guess i am. >> you're saying to capitulate to obama who's -- we don't have a revenue problem, ann. >> we lost the election, sean. >> what was that? i mean joy. >> stop making sense, ann. >> we should have led with that. it is like ann coulter is admitting the republicans lost and some deal should be in order. >> when ann coulter is the sanest voice in your party it might be time to going back to being the wigs. it's a it tough time for republicans. she's right. the republicans at this point are negotiating the terms of their surrender on the tax issue. from a pr standpoint and a real standpoint they can't look like all they care about is defending those top 2% rates. >> absolutely. >> if i can go back to what joan said, i think the problem is that if you look at ann coulter even, feeds into the same thing, people like jim demint may be leaving the senate but it's like the movie "aliens" he's seated the host with the alien baby. >> oh, god. >> all these pe
. >> are you saying then, for pr purposes, that they should give in to obama on the tax rate? >> not exactly. well, yeah, i guess i am. >> you're saying to capitulate to obama who's -- we don't have a revenue problem, ann. >> we lost the election, sean. >> what was that? i mean joy. >> stop making sense, ann. >> we should have led with that. it is like ann coulter is admitting the republicans lost and some deal should be in order. >> when ann...
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the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we would pursue our own interests. i'm not -- i'm certainly not insisting, i don't even desire higher rates. i think there lab drag if revenue goes up and rates go up. but i think there will also be a drag on the american economy if our budget deficit widens out fo
the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank...
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Dec 3, 2012
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, obama wants to give us the bad part of europe, without the good part. >>neil: thank you very much. they are not cutting anything. just slowing the growth. rebound and former president bill clinton hitting the links. this is a photo from last year. what we don't know what was said teen them this year my guest homes the former president was critiquing more than just his successor's swing. art laffer was the top reagan economic adviser and you voted twice for bill clinton because his prosecutor mix of taxes. explain that? >>guest: yes i sure did. but for the raise hikes at top end, he cut taxes on the working people between ages of 65 and 72. he cut taxes on trade and products. he cut government spending as a share g.d.p. dramatically and he cut the capital gains tax rate and butt in welfare reform. what do you want from a president that bill clinton did not deliver? he was a great president. >>neil: the investment taxes was that concurrent with what was going on in the income tax hike front? >>guest: no. it was not. the capital gains tax reduction which h
, obama wants to give us the bad part of europe, without the good part. >>neil: thank you very much. they are not cutting anything. just slowing the growth. rebound and former president bill clinton hitting the links. this is a photo from last year. what we don't know what was said teen them this year my guest homes the former president was critiquing more than just his successor's swing. art laffer was the top reagan economic adviser and you voted twice for bill clinton because his...
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Dec 5, 2012
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to budge on tax rates for the wealthy. harry reid had this for the republicans. >> i sympathize sympathize with john boehner. the tea party has a firm grip on the republican party. we are not going to twist ourselves into contortions to please a vocal minority of the tea party. >> jennifer: that's fascinating a new approach for harry reid feeling sorry for john boehner. i'm not sure how john boehner feels about that. with me is karl frisch in washington and donny welcome back inside "the war room"." >> it's a party. >> jennifer: yeah, all good stuff. karl i'll start with you. how should democrats be handling this tea party revolt? should they do more to assist speaker boehner? >> we should be throwing gas on the fire. this is an emporer with no clothes. when we were pushed to fiscal cliff it was because john boehner promised something to the president and could not get members of his caucus do the right thing for the american people. >> i don't think we should be putting more gas on the karl what you're saying when your en
to budge on tax rates for the wealthy. harry reid had this for the republicans. >> i sympathize sympathize with john boehner. the tea party has a firm grip on the republican party. we are not going to twist ourselves into contortions to please a vocal minority of the tea party. >> jennifer: that's fascinating a new approach for harry reid feeling sorry for john boehner. i'm not sure how john boehner feels about that. with me is karl frisch in washington and donny welcome back inside...
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it's noted that the democrats have celebrated the proposal put out by president obama. meanwhile, you have a number of republicans slamming speaker boehner. how would you describe his position right now? >> well, he really didn't win for losing. he's trying to say to president obama if i wanted topaz your proposal i can't do it. he's really truly between a deal and promise and getting the fight over with and a conference that won't allow it. i think what senator demint is saying and house republicans are saying to john boehner is, let's go over the cliff. that we can live with the sequester and we absolutely will not raise tax rates no matter what. what that does is eliminate all of the tax cuts and then there's a new fight in january to push obviously by the democrats to restore tax cuts for 98% of americans. and then that will be muddied by the need for a debt ceiling increase and the fight goes in to february. it's government at the brink all the time. we don't know how the markets and the credit rating agencies will react. probably be bad ybut i think that's what yo
it's noted that the democrats have celebrated the proposal put out by president obama. meanwhile, you have a number of republicans slamming speaker boehner. how would you describe his position right now? >> well, he really didn't win for losing. he's trying to say to president obama if i wanted topaz your proposal i can't do it. he's really truly between a deal and promise and getting the fight over with and a conference that won't allow it. i think what senator demint is saying and house...
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in the "wall street journal" they write obama's flexible on highest tax rates. white house's flexibility, described by bowls, confirmed by the administration officials, could envision tax rates -- tax rate increase from the current level but was less than clinton era levels. if the republicans can say, we cut taxes from where they were under clinton it gives them cover though rates may go up. a weird, if there is an act of kabuki theater that would be it, right. >> i see a parallel between the two news story the palestinian vote and the congressional stuff because boehner's -- >> be careful here, my friend, please. >> let me do my caveats first. i still have a job when i walk out of the studio. i sort of see a boehner in the role of a boss here. you know he has got, you know, he's got still a very hard core group of people on right who are not still -- still not terribly afraid and are not taking lessons out of election so he really does have a fundamental concern about how he's going to put together a coalition to do this. and i really do think, for all joking
in the "wall street journal" they write obama's flexible on highest tax rates. white house's flexibility, described by bowls, confirmed by the administration officials, could envision tax rates -- tax rate increase from the current level but was less than clinton era levels. if the republicans can say, we cut taxes from where they were under clinton it gives them cover though rates may go up. a weird, if there is an act of kabuki theater that would be it, right. >> i see a...
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taxes on those making $250,000 or more. if you look at questions coming in, there's still concerns about those ideas, so the president answering those this afternoon. this is really like a twitter town hall. he used a similar tactic back in 2011 to talk about jobs and the economy. also remember during the payroll tax cut fight, senior administration officials tell me they have gotten more responses during this my2k hash tag initiative than in the past. that stands for $2,000, which is how much taxes would increase. john boehner says this is at a standoff. all sides need to come back to the table at some point to get progress anytime soon. tamron. >> let me bring in congressman chris van hollen. thank you for your time, sir. very busy and saw you on the monday morning program as well. how would you categorize talks right now? is this a true stalemate? >> well, it's only a stalemate because speaker boehner, the republican leader, has not put his proposal on the table. as you know, the president has put his cards on the table.
taxes on those making $250,000 or more. if you look at questions coming in, there's still concerns about those ideas, so the president answering those this afternoon. this is really like a twitter town hall. he used a similar tactic back in 2011 to talk about jobs and the economy. also remember during the payroll tax cut fight, senior administration officials tell me they have gotten more responses during this my2k hash tag initiative than in the past. that stands for $2,000, which is how much...
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he knows that taxes go up on the top 2%. obama won that in the campaign. the problem that the speaker faces is his members won on a campaign platform they were going to lower taxes for high-income folks. it's a tough sell to get his members to do that, which they don't want to do. on the other hand his members know that the end game will be taxes go up on the it top 2%. either they'll have the maneuver of two votes so everybody has a face-saving way forward on the revenues, or we'll wait until january and put a tax bill on the floor where they maintain their commitment to groefrer norquist and vote at that point for lower taxes. >> you are one of the democrats who has indicated in the past you'd be willing to go off the so-called cliff if that's awhat it takes to get a good deal. are you at all concerned the message that that sends to the markets, the message that sends potentially to consumers as well during this busy holiday shopping season? >> i am. you know, it's another indication of congressional dysfunction. so it's not anything that's particularly
he knows that taxes go up on the top 2%. obama won that in the campaign. the problem that the speaker faces is his members won on a campaign platform they were going to lower taxes for high-income folks. it's a tough sell to get his members to do that, which they don't want to do. on the other hand his members know that the end game will be taxes go up on the it top 2%. either they'll have the maneuver of two votes so everybody has a face-saving way forward on the revenues, or we'll wait until...
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they have a plan on tax reduction which most economists think would do far more harm than the obama plan would. secondly, they fail to specify what kind of cuts they want. remember, this is the party that's campaigned for two election cycles now on cutting government spinding, but when you ask them to identify exactly what you want to cut, you get mishmash from them. you get $100 billion in medicare savings by increasing the retirement age from 65 to 67. you get some unspecified savings from reducing social security. the only specifics if you add them up are about $300 billion or $400 billion in specific cuts, the rest are inspecific. this is the party whose fundamental premise is to cut government spending. you ask them to identify how they want to do it, and they start speaking in gibberish. it shows you this is a phony, phony movement on the part of conservatives to cut government spending. >> absolutely. ari, the president took a question on twitter this afternoon. quote, what is your opposition to taking away deductions for the 2% rather than upping the rate? seems like a reasonable
they have a plan on tax reduction which most economists think would do far more harm than the obama plan would. secondly, they fail to specify what kind of cuts they want. remember, this is the party that's campaigned for two election cycles now on cutting government spinding, but when you ask them to identify exactly what you want to cut, you get mishmash from them. you get $100 billion in medicare savings by increasing the retirement age from 65 to 67. you get some unspecified savings from...
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there's $1 trillion of obama care taxes hitting in the next several years, many of them major taxes. if you have a flexible savings account on january 1 -- this isn't the fiscal cliff. this is what obama has already baked into the cake. your flexible savings account will be trashed by taxes. millions of special needs families will find their taxes go up. if you're really sick, you can't deduct as much of your health care costs as you used to. these are all the ways that obama's raising taxes, $1 trillion, $1.1 trillion, over the next decade. five major taxes. his new taxes are not off the table. they hit directly into the middle class. medical devices. when you go to the hospital, medical devices like riding in a wheelchair will get more expensive because of this tax. i mean, these taxes are damaging. he wants to make them permanent. >> i think grover knows that the major source of additional taxes is part of the affordable care act is asking higher income individuals over $250,000 to pay higher capital gains and more on their medicare contribution. that was the bulk of the taxes. so
there's $1 trillion of obama care taxes hitting in the next several years, many of them major taxes. if you have a flexible savings account on january 1 -- this isn't the fiscal cliff. this is what obama has already baked into the cake. your flexible savings account will be trashed by taxes. millions of special needs families will find their taxes go up. if you're really sick, you can't deduct as much of your health care costs as you used to. these are all the ways that obama's raising taxes,...
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obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24 places. speed was caused by americans failing to limit obama to four years. back to you. melissa: thank you so much, thanks they want to tweet hash tag bad ideas. thank you, dennis. lori: what is going on? melissa: you haven't been shopping. lori: luxury jeweler not looking very pretty today. the trade at the nyse coming ahead. melissa: is andrew mason the right person to run it groupon? meeting on the troubled company's future. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. now is a good time to think about your options. are you lookin
obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24 places. speed was caused by americans failing to limit obama to four years. back to you. melissa: thank you so much, thanks they want to tweet...
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cuts, let president obama veto that extension, then vote a middle class tax cut and let the top bracket expire, and then republicans can say look, we didn't really break our pledge. taxes were going to go up across the board. we did what we could do and the president wouldn't let us do more. but i also think that president obama sees a real percentage for him in getting republicans to cross the line of agreeing to a rate increase. and that's why i think he's pushing so hard on this. i think most economists would agree that there is often more advantages in capping deductions than in just going for the rates, but i think there's a real political advantage for democrats looking ahead to battle after battle that we'll face down the road in getting republicans to cross that red line. it's sort of a scout, you might say. >> thank you both very much. >>> the united states opposed today's u.n. vote on the palestinian observer state. senator bob menendez saying it could inflame passions throughout the region. welcome to you, senator. >> good to be with you. >> explain to me why you feel so stro
cuts, let president obama veto that extension, then vote a middle class tax cut and let the top bracket expire, and then republicans can say look, we didn't really break our pledge. taxes were going to go up across the board. we did what we could do and the president wouldn't let us do more. but i also think that president obama sees a real percentage for him in getting republicans to cross the line of agreeing to a rate increase. and that's why i think he's pushing so hard on this. i think...
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president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that's about 8% of that deficit. so does that suggest w have a tax problem or, perhaps, a spending problem? think about this. taxpayers making more than $250,000 representing the top 2% paid more than 46% of all texas. that would seem like a pretty fair deal to most of us, but the president says it is not fair. we don't know what that number is. how much should it be? and contrary to what the president would have you believe as he campaigns untack sites all around the country and against the wealthy, he's doing a lot of that. the bush tax rates are not the root of our problems. in fact, individual tax payments rose, get this, $2,303,000,000,000 or 26%. over the past two years. under those very low unshared bush tax rates with the difficult slope but a growing economy we still added $233 billion to the federal revenue. here is what happens if obama drives us off the cliff. that 82 billi
president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that's about 8% of that deficit. so does that suggest w have a tax problem or, perhaps, a spending problem? think about this. taxpayers making more than $250,000 representing the top 2% paid more than 46% of all texas. that would seem like a pretty fair deal to most of us, but the president says...
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men at the center of the fiscal cliff negotiations, tom cole of oklahoma and the man behind the anti-tax pledge, grover norquist will both be "outfront." the new film called zero dark 30 based often the raid that killed osama bin ladin and some charge the obama administration gave the producers certain access. thanks for joining us. and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. the distances aren't getting shorter. ♪ the trucks are going farther. the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! thanks. when you take a closer look... ...at the best schools in the world... ...
men at the center of the fiscal cliff negotiations, tom cole of oklahoma and the man behind the anti-tax pledge, grover norquist will both be "outfront." the new film called zero dark 30 based often the raid that killed osama bin ladin and some charge the obama administration gave the producers certain access. thanks for joining us. and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can....
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president obama has been reelected, taxes are going to go up one way or another, are they going to go up for everybody or just for the wealthy and then we can get the american economy rolling again. i think the stock market is very smart about this. it realizes that all this is much adue about nothing, taxes are going to go up. if they reach adeal and that falls apart that, could send the stock market reeling, like it did in 2008 when everybody thought congress was going to do the t.a.r.p. bailout and didn't and then they came back and did it. >> we had the business roundtable yesterday where the boeing ceo in the introduction to the president said there's not a lot of wall flowers in this room. the president knew the crowd he was meeting with and talking to and the president saying i passionately rooting for all of your successes. >> on the one hand we all know that wall street supported mitt romney because he was one of them. on the other hand, this is exactly what the president should be doing, meeting with these business leaders, mending fences. now, a lot of those business leader
president obama has been reelected, taxes are going to go up one way or another, are they going to go up for everybody or just for the wealthy and then we can get the american economy rolling again. i think the stock market is very smart about this. it realizes that all this is much adue about nothing, taxes are going to go up. if they reach adeal and that falls apart that, could send the stock market reeling, like it did in 2008 when everybody thought congress was going to do the t.a.r.p....
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president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the november jobs report numbers. they look very good, good news overall for the koirnlt tree. but speaker boehner said this, the democrats plan to slow walk our economy to the edge of the fiscal cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that
president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the november jobs report numbers. they look very good, good news overall for the koirnlt tree. but speaker boehner said this, the...
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tax rate? he raises the tax rate in order to spend. seems to me that taxing and spending is his mantra, just like the east european mantra and the california and new york -- why would you want to raise the tax rate $1.6 trillion if youp didn didn't want to spe? that's a big number. >> it is. jared bernstein was in "the new york times" complaining about the tax cutting in this country over the past 30 years. and jared says, we've gutted the tax code, we're just not getting enough revenue for all the spending we want. >> i would gut the tax code of all its special deductions and loopholes and whatnot and take the rate down to about 15%. i am a flat tax guy. what i don't get is why the united states wants to imitate the mistakes of western europe, jim pethokoukis. that's what i don't get. you get the last word. >> i think it's stunning and i hope we learn from yoour mistak as quickly as they did in great britain. >>> who needs to wait for a recession? our next guest says we may already be in one a
tax rate? he raises the tax rate in order to spend. seems to me that taxing and spending is his mantra, just like the east european mantra and the california and new york -- why would you want to raise the tax rate $1.6 trillion if youp didn didn't want to spe? that's a big number. >> it is. jared bernstein was in "the new york times" complaining about the tax cutting in this country over the past 30 years. and jared says, we've gutted the tax code, we're just not getting enough...
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obama has been unequivocal over the fact that the top earners tax rate must return to the clinton era. he can introduce a tax plan that will accomplish all of his revenue goals. that's the rumbling that they are getting ready to cave and make it seem like they are not caving. the republicans are suddenly in control, blah, blah, blah blah blah. so i don't -- i'm getting confused on how the best way is for this to play out. [♪ "world news tonight" theme ♪] >> stephanie: you know president bad for business, jim? corporate profits have hit a record high while wages have hit a record low. corporation earnings are up 18.6% from a year ago. >> thanks to that socialist obama. >> stephanie: wages as a percentage of the economy are at an all-time low as this chart shows. i have a handy dandy chart once again. >> socialist, communist, hip hop barbecue. >> stephanie: thank you, skeeter. let's goo to jerry. >> caller: hey, steph. i was wondering during the fiscal cliff thing they are talking about putting medicare and everything on the block, couldn't they accuse the president of cutting $716
obama has been unequivocal over the fact that the top earners tax rate must return to the clinton era. he can introduce a tax plan that will accomplish all of his revenue goals. that's the rumbling that they are getting ready to cave and make it seem like they are not caving. the republicans are suddenly in control, blah, blah, blah blah blah. so i don't -- i'm getting confused on how the best way is for this to play out. [♪ "world news tonight" theme ♪] >> stephanie: you...
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. >> california, they just voted 13.3% state tax on top of the obama 40% tax. >> why do you think people are leaving? why would you stay there? >> you wouldn't. >> good to see you. the five is doing great. won greatlation toss both of you. coming up, liberals deny there are any eye vent extremists on theiren of the video spectrum but anarchists are now calling for violence on american soil. and is john boehner retaliating against his own tea party members? we have two congressmen who stood by the tea party principles and they now find themselves stripped of key positions. we will tell you what they are going through inside the going through inside the spspspspspspsp having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is n
. >> california, they just voted 13.3% state tax on top of the obama 40% tax. >> why do you think people are leaving? why would you stay there? >> you wouldn't. >> good to see you. the five is doing great. won greatlation toss both of you. coming up, liberals deny there are any eye vent extremists on theiren of the video spectrum but anarchists are now calling for violence on american soil. and is john boehner retaliating against his own tea party members? we have two...
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Dec 1, 2012
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the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate. your members of congress, like allyson and chaka, other democrats in the house, they're ready to go, they're ready to vote on that same thing. if we can just get a few house republicans on board, we can pass the bill in the house, it will land on my desk, and i am ready, i have got a bunch of pens ready to sign this bill. >> 30 minutes after the president was finished, house speaker john boehner held a press conference, and he left unanswered the president's call for decoupling that 98% from the richest 2%, and he gave a pessimistic assessment of the si
the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families....
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tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there when it comes to talking about entitlements, or earned benefits as progressives like to refer to it, what is the way that the president and those on the left can look and also appear to the right to be willing to compromise? what can they put on the table, if anything? >> well, i just don't think that any of us think that it is a reasonable idea to over the course of the next week and a half, over the course of the holiday season, for the president and this congress, which is a lame duck congress, to engage in major entitlement reforms of programs that have helped to lift millions of americans ou
tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there...
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Nov 30, 2012
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obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? of that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate. your members of congress, like alison and chaka, other democrats in the house, they're ready to go, they're ready to vote on that same thing. if we can just get a few house republicans on board, we can pass the bill in the house, it will land on my desk, and i am ready, i have got a bunch of pens ready to sign this bill. >> 30 minutes after the president was finished, house speaker john boehner had held a press conference and he left unanswered the president's call for decoupled that 98% from the richest 2% and he gave a pessimistic assessment of the situation. let's listen
obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? of that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate....
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anybody with a brain knows that this guy, obama, that is his only insistence. but no someone favor -- go look at the tax code. that is what we spent eight months doing. looking at this code. in there is $1,100 ,000,000 of tax expenditures, tax earmarks spending by any other name. guess what? 20% of the american people use 80% of it. who do you think that is? that is you and me and the guys with money. only 27% of the american people itemize. that means three-quarters of the american people never heard of those goodies. so if you want to get something from the rich, just go in to the tax code and start ripping. you don't have to call at it tax increase. it will take time to do. that is where you get your scratch. >> bret: there is so much talk about taxes but little talk about spending or cut to spending. george will wrote spending the main culprit because the federal revenue is $2.6 # trillion. spending is $3.76 trillion. we're spending $987 billion more than we would be if we increased bill clinton's last budget for inflation. and population growth. >> you can
anybody with a brain knows that this guy, obama, that is his only insistence. but no someone favor -- go look at the tax code. that is what we spent eight months doing. looking at this code. in there is $1,100 ,000,000 of tax expenditures, tax earmarks spending by any other name. guess what? 20% of the american people use 80% of it. who do you think that is? that is you and me and the guys with money. only 27% of the american people itemize. that means three-quarters of the american people...
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if president obama is talking about taxing the wealthy. it doesn't get you there. the math doesn't add up. i doesn't get you out of the hole. but if they get that on december 22 and all he get he is has a seriouscliff on his hands. >> i want to play this. question to nancy pelosi. the minority leader in the house about spending cuts and what she is willing to do. >> the thing on the spending cuts -- the definite -- [ inaudible ] >> $1.5 trillion in cuts is a lot of money. we in washington, d.c. and we get used to big numbers but $1.5 trillion in cuts you go beyond that, you are talking hurting the growth of the infrastructure and education of our people and the pillar, the pillars of our economic strength. >> bret: that is a message, steve, we cut enough. yesterday, i should point out that senator reid meant to say $1 trillion. not one $1 billion on the sound bite we played to be fair to him. but nancy pelosi is clearly saying we're done. >> you see this in the comments that the democratic members of the house made to the public. big argue in politico, not refrench
if president obama is talking about taxing the wealthy. it doesn't get you there. the math doesn't add up. i doesn't get you out of the hole. but if they get that on december 22 and all he get he is has a seriouscliff on his hands. >> i want to play this. question to nancy pelosi. the minority leader in the house about spending cuts and what she is willing to do. >> the thing on the spending cuts -- the definite -- [ inaudible ] >> $1.5 trillion in cuts is a lot of money. we...
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rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have right now. so, yes, democrats are not as bad off as the r
rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and...
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>> how will he pass the massive obama tax cut without the house? >> i'm assuming they'd want to have a big tax cut, right? >> no. >> they would sit on their hands post-january 1st and say nothing? >> do you think republicans are so stupid in the house they don't see that move coming and say, you know what? you go ahead and you try to pass your tax cut through harry reid's senate, and we'll pass our tax cut through the house. and good luck. >> so they would just rather have everyone's tax -- i'm shock that that would be the end result. >> harry reid would rather have it his way or nobody's way? >> no, i'm saying you can negotiate in these flex three weeks about this package of tax cuts. >> i don't mean this to be directed towards you -- >> but here it comes. >> -- no, i'm just saying generally, there is such an arrogance in the media since the president won. they think that these house republicans are -- >> have nothing to say. >> -- have absolutely nothing to say. >> i do agree with that. or nothing of value. >> they act as if they were elected by
>> how will he pass the massive obama tax cut without the house? >> i'm assuming they'd want to have a big tax cut, right? >> no. >> they would sit on their hands post-january 1st and say nothing? >> do you think republicans are so stupid in the house they don't see that move coming and say, you know what? you go ahead and you try to pass your tax cut through harry reid's senate, and we'll pass our tax cut through the house. and good luck. >> so they would...
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he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint economic committee hearing. they're going to hear from a top economist not only about the jobs numbers coming out tomorrow but also about what can be done to avoid this issue at the end of the year. >>
he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us...
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stuart: president obama will not budge on raising tax rates on the rich. speaker boehner responded to that this morning with a very brief statement, almost a bust, saying the president has an obligation to come up with a plan that would pass congress. not much response from the market. in fact zero response from the markets at all. citigroup shares moving this morning. citi announced plans to lay off, cut, 11,000 jobs worldwide. it will save more than a billion dollars in expenses. citi calls the job plan a repositioning of the company. the stock is up 4%. netflix down again after announcing a massive deal with disney that gives netflix exclusive rights to run disney movies first. investors don't like the cost of the deal. 300 million dollars a year. doesn't even begin till 2016. the stock is down. mike reagan is next with a new low -- i'm calling it a new low reached by the california teachers' union. mike reagan is next on that. stuart: you've got to take a look at this video out of california. it's incredible. it is from the teachers' union. >> because
stuart: president obama will not budge on raising tax rates on the rich. speaker boehner responded to that this morning with a very brief statement, almost a bust, saying the president has an obligation to come up with a plan that would pass congress. not much response from the market. in fact zero response from the markets at all. citigroup shares moving this morning. citi announced plans to lay off, cut, 11,000 jobs worldwide. it will save more than a billion dollars in expenses. citi calls...
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i am taken aback at how dedicated president obama is about raising taxes on just 2% of our population, showing amazing amount of resolve to raise taxes on a group of people that won't make a significant dent in our annual deficit or ten-year deficit projections, something like 70 billion off 1.14 trillion deficit. it won't make a big dent. why is he so dedicated to it? that being said, carol, despite the fact that it sends me a little off kilter, yes, republicans lost the election. they don't have a ton of leverage. they want to try to achieve a deal that they think is going to maximize potential good for the country, meaning spending reform, budget deficit reduction, but the truth is that they don't have a ton of leverage in forcing president obama to take a look at medicare and social security to bring this conversation full circle that really mean serious budget and deficit reform. >> well, i'm sure that the majority of americans are hoping the two sides will come to some sort of deal. wouldn't that be nice? that would be a nice christmas present. will cain, thank you. >> yeah, you
i am taken aback at how dedicated president obama is about raising taxes on just 2% of our population, showing amazing amount of resolve to raise taxes on a group of people that won't make a significant dent in our annual deficit or ten-year deficit projections, something like 70 billion off 1.14 trillion deficit. it won't make a big dent. why is he so dedicated to it? that being said, carol, despite the fact that it sends me a little off kilter, yes, republicans lost the election. they don't...